Rating

8Overall

9
Applicability

7
Innovation

9
Style

Recommendation

From a child’s first lemonade stand to corporate giants like Apple, all businesses start out with a plan, but few of these initial road maps go the distance. Rather, one of a company’s subsequent strategies – its Plan B or C or even D – usually points the way to success. London Business School professor John Mullins, author of The New Business Road Test, and venture capitalist Randy Komisar, author of The Monk and the Riddle, explain how to develop a strong business model using a healthy dose of data balanced by the occasional terrifying-yet-exciting “leap of faith” that differentiates one business from another. getAbstract recommends this book to new entrepreneurs and leaders who are responsible for building businesses. It contains basic financial information to get you going, ample examples, inspirational characters and plenty of encouragement to trust your instincts and build a Plan B that delivers.

In this summary, you will learn

Why businesses rarely succeed using their initial plans

How to use “analogs” and “antilogs” in your business

When to take a leap of faith and how to examine it with testable hypotheses

How to measure your progress using a dashboard

How to use the five elements of every business model to rewrite the rules in your industry

Summary

The Journey to Plan B All entrepreneurs have a vision for how they will succeed. They have a Plan A. However, accomplished businesspeople know that when they actually achieved success, their Plan A wasn’t the road map they had followed. It was very likely their Plan B, or Plan C or even...

About the Authors

John Mullins is an associate professor at London Business School and the author of The New Business Road Test. AttorneyRandy Komisar, author of the The Monk and the Riddle, is a partner at Kleiner Perkins Caufield & Byers, a venture capital firm.